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Oxley's The Peak project in Phnom Penh sees sales of over 50% for Phase 1

Oxley Holdings' second development project in Phnom Penh, known as The Peak, has achieved sales of more than 50 per cent for Phase 1 of the development, comprising 507 residential units in Tower 1.

The Peak was first launched at a VVIP preview event in Phnom Penh on Sept 18 and subsequently in Singapore on Oct 17.

Located in the heart of Phnom Penh facing the Mekong River, The Peak is a freehold 55-storey mixed-use development comprising two residential towers with a total of 1,014 units, one commercial tower with 15 levels of office units and a 300-room hotel. It also incorporates five levels of retail space.

Construction of The Peak is expected to commence in early 2016 and the development is expected to be completed in 2020.

Buyers of The Peak residential units are guaranteed a 12 per cent net rental return over two years, subject to conditions.

Oxley's chief executive, Ching Chiat Kwong, said, "The sales progress is a strong testament from buyers in both Cambodia and Singapore of the investment merits and robust unique selling proposition of The Peak."